Today’s market candlestick signals revealed a potential reversal in the indexes. The Dow produced a hanging man signal followed by a small shooting star candlestick signal today. This produces a much more accurate trend analysis. A lower open tomorrow would indicate a pullback at least to test the T-line. The NASDAQ formed a bearish Doji/Harami. This also provides a good trend analysis indicator. A lower open would suggest a pullback to the 50 day moving average/T-line level.
Having this visual knowledge allows the candlestick investor to move quickly and closing out long positions that are starting to show reversal signal confirmations. However, there still remains very strong bullish signals and patterns. The kicker candlestick signal continues to produce good profits even when the overall market starts getting bearish. As illustrated in the MRNA chart, the kicker signal started the uptrend. Maintaining the position is simple, as long as it does not close below the T line. Using the T line as a trend indicator in conjunction with candlestick signals greatly reduces emotional decisions. You gain a much better analytical perspective of price moves when using candlestick signals/patterns in conjunction with the T line. Join us Saturday, November 19 for a full day training on visually recognizing the high probability trades set ups using the T line as your major confirming indicator. This training should give you a new perspective on effective trading strategies. Click here for more information.
Members Chat session tonight at 7pm central. Free to Members. Not a member? Click here to join
Good Investing,
Stephen Bigalow
